Mergers & acquisitions (M&A)
SEIB completes Lansdown buy
South Essex Insurance Brokers has completed the purchase of Lansdown Insurance Brokers, retaining partners Ray Gill and Fred Irvine.
Consolidation expected as China relaxes M&A rules
KPMG is predicting an increase in sector consolidation following China’s decision to relax merger and acquisition rules for its insurance industry.
Hodges to build on 'fantastic track record' with future acquisitions
Towergate group chief executive Mark Hodges remains confident in his firm’s ability to acquire businesses in the wake of Arthur J Gallagher snapping up brokers Oval and Giles.
ABI investment arm to merge with IMA
The Association of British Insurers has agreed to merge its investment activities with the Investment Management Association, creating a new trade body.
Chase Templeton snaps up Scottish PMI specialist
Private medical insurance specialist intermediary Chase Templeton has completed its second acquisition within a week with the purchase of specialist Glasgow intermediary Chartered Life.
China to allow more mergers and acquisitions
From 1 June, insurers will be able to acquire insurers operating in the same product line according to the China Insurance Regulatory Commission's website.
Bluefin appoints Acxiom's Higgins as PE head
Bluefin has appointed Jon Higgins as its head of private equity, where he will focus on developing Bluefin’s mergers and acquisitions practice in the private equity and corporate arena.
Chase Templeton acquires Ealing-based SJS Healthcare
Chase Templeton has acquired Ealing-based SJS Healthcare Associates in a deal adding £2m annual premium income to its books.
Gallagher buys Wesfarmers broking division for A$1.1bn
International insurance broker Arther J Gallagher & Co. has bought Wesfarmers insurance broking operations based in Australia, New Zealand and the UK for A$1.1bn ($928m).
Gallagher to axe Giles brand in May
Arthur J Gallagher is planning to drop the Giles brand in two months, with the Oval name set to disappear further down the line, commercial director Janice Deakin has told Post.
Enstar completes Torus acquisition
Enstar Group has completed the previously announced acquisition of global specialty insurer, Torus Insurance.
Gallagher acquires Oval for £199m
Gallagher has completed a deal to acquire Oval for £199m, with Peter Blanc serving as Gallagher’s new chief executive of UK retail.
Gallagher completes £210m deal for Oval, claims report
The acquisition of Oval by Arthur J Gallagher has been completed with the American firm paying approximately £210m to acquire the Wakefield-based broker, according to reports this morning.
Helios increases underwriting capacity with Bernul acquisition
Helios Underwriting has acquired Lloyd’s limited liability member Bernul for £0.8m.
M&A more attractive than start-ups in Asia, says Towers Watson
According to consultancy Towers Watson regulatory restrictions make insurer acquisitions more attractive than start-ups in Asia.
Specialist MGA appoints Charles Taylor as service provider
Charles Taylor Insurance Services has been appointed to provide services to managing general agency Hunter George & Partners.
Aviva sells Turkish GI business to PE consortium
Aviva has sold its Turkish general insurance business Aviva Sigorta A.Ş, to a private equity consortium led by EMF Capital Partners.
LAS COO Dunworth resigns days after Innovation Group buy
LAS chief operating officer Max Dunworth is to depart the business later this year, Post can reveal.
CMS report highlights surge in warranty and indemnity M&A activity
Warranty and indemnity insurance is becoming a prominent feature of mergers and acquisitions activity in Europe, according to a study conducted by international law firm CMS Cameron McKenna.
Howden to acquire Colombian reinsurance broker
Howden has completed a deal to acquire a Bogota-based reinsurance broker, pending regulatory approval.
Towergate acquires four regional broking operations
Towergate chief executive Mark Hodges has heralded continued “acquisition momentum” in 2014 after agreeing deals to take on four regional broking businesses.
Allianz agrees asset deal with Italian insurer Unipol Sai
Allianz is to buy part of Italian insurer Unipol Sai Assicurazioni’s property and casualty business in a deal worth up to €440m (£367m).
Swinton Commercial acquires Cleethorpes-based consultant
Swinton Commercial has purchased Cleethorpes-based CH Turner Insurance Consultants.
FP Marine buys rival broker in Hong Kong
FP Marine Risks, which is 55% owned by Hyperion, is in advanced negotiations to acquire the assets and staff of Risk Exchange a marine broker also based in Hong Kong.